North Star Shipping wins £20 million worth of businessCompany News // September 7, 2011
North Star Shipping, a division of the family-owned global shipping and energy services firm - Craig Group, has secured in excess of £20 million in new business and the renewal of existing contracts.
The company which provides offshore support vessels to the offshore industry has won a new contract with the largest operator of Floating Production, Storage and Offloading (FPSO) vessels in the North Sea.
Under the new contract with Norwegian owned Teekay Petrojarl (part of the Teekay Corporation), North Star Shipping will provide emergency response and rescue services using Grampian Ranger vessel and her crew to support the Petrojarl Banff FPSO in the Central North Sea from 2011 to 2014.
North Star has also renewed a rolling contract with Marathon which will see Grampian Courageous and Grampian Protector continue to support their operations in the Brae Field.
The company’s contract with CNR International in support of the Murchison and Tiffany locations, involving the vessels Grampian Otter and Grampian Pioneer, has also been renewed on a rolling basis.
Callum Bruce, managing director of North Star, said: “We are delighted to have secured our first contract with Teekay Petrojarl and are confident this relationship will develop over the next four years.
“Equally, it is very pleasing to have retained contracts with Marathon and CNR with whom we have long-standing relationships.
“Craig Group has invested a further £35million in its fleet in the last year, which will see the delivery of four new ‘D' class ERRVs.
"The first of the emergency response and rescue vessels, Grampian Don, was recently launched at the Balenciaga Shipyard in Northern Spain with the other three expected to enter service in 2012.
This £35million investment follows on from a £130 million programme by the Craig Group, which began in 2003 and was completed with the delivery of the Grampian Citadel late last year.
The Craig Group fleet, operated by North Star, now stands at 31 vessels.